Revenue during the quarter went up marginally by 0.97 percent to $15.67 million from $15.52 million in the previous year period. Operating margin for the quarter stood at negative 6.65 percent as compared to a negative 1.87 percent for the previous year period.

Operating loss for the quarter was $1.04 million, compared with an operating loss of $0.29 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.38 million compared with $0.90 million in the prior year period. At the same time, adjusted EBITDA margin contracted 331 basis points in the quarter to 2.46 percent from 5.77 percent in the last year period.

Jack Abuhoff, chairman and chief executive officer, said, "In 2016 our entire 8% revenue growth of $4.6 million was driven by our Innodata Advanced Data Solutions (IADS) and Media Intelligence Solutions (MIS) segments. Our data driven products from these businesses are part of our clients' workflows, resulting in more predictable revenue. Our Digital Data Solutions segment (DDS) experienced a decline in revenue in 2016, primarily on account of a decline in revenue from our key eBook client and price concessions and reduced volume from another key client. Revenue from eBooks accounted for 11% of $50.6 million in total DDS revenue for the year, and 6% of $11.7 million in total DDS revenue for Q4. We partially offset this decline with DDS revenue from projects that rely on advanced technologies in data extraction and machine learning and from projects that require foreign language capabilities."